I agree- lets see if they deliver this one time on this process which they should have some control over certain items. pgi almost never delivers and they seem to have no perception of time when they give timeframes but I hope they deliver on some of the portions of the letter to shareholders....i personally think they will do something to make it were shareholders dont get the full benefits of any achievements they make. I just dont think they unload like crazy at .0003 and then buy it right back at .0005 or higher but if they feel a turnaround is coming...maybe they will?
this is what they put out previously...according to this we should be seeing some changes in the market soon unless pgi is misleading shareholders once again.
from the PGI Energy Letter to Shareholders
The executive team wanted to take this opportunity to address shareholders to provide an update. The new entity is near completion of its listing on the Frankfurt first quotation board. We expect this process to be completed this month. The board of directors have reviewed plans for consolidation of operations recommended by the executives and have concluded that it is in the best interest of the company and its shareholders to combine business operations with the Frankfurt listed entity as the parent holding company and the US entity shall remain as the operating entity. Both entities will be public at present, unless the board proposes a change.
The parent company shall upon receipt of funds from our institutional investors, assume and pay the debts of PGI Energy, Inc (US) and shall fund its operations with consolidated financials going forward. The parent company upon receipt of adequate funds from its institutional investors plan to conduct a stock repurchase plan through acquisition of shares of PGIE in the open market. The new ticker symbol and trading quotation information will be released through a subsequent press release soon. ( when will this occur***) and how much is pgi willing to pay for shares if they deliver this one time ?)
Shareholders contacted our office regarding an update on the Company listing on the Frankfurt Stock Exchange (FSE). We hired a consultant to advise us and file appropriate documentation to begin the listing process. Please be advised that a separate affiliate Company seeks listing on the FSE.
Our affiliate Company expects to be much further along in the listing process within the next two weeks. Thereafter, we will update the shareholders. Upon successful listing on the Frankfurt Exchange, the affiliate Company will seek capital infusion to implement our business plan. Additionally, after successful listing on the Frankfurt Exchange, the Company may consider a number of options that affect shareholders, including, but not limited to, possible proxy for possible consolidation of the entities through either an asset purchase agreement, stock repurchase plan, stock exchange process and or holding company parent relationship.
Once a decision is made regarding Company direction, shareholders will be notified and may participate regarding the disposition of the domestic Company.
We are concerned about the current share price and believe the current plan outlined above will be corrective for our shareholders
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